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Business official: Eden faces roughly $2.6–3.0M budget gap despite modest state-aid increase
Summary
The district's business office briefed the board on the 2026–27 revenue picture: a modest 1% increase in foundation aid under the governor's proposal but a large drop in deferred building aid produces a roughly $2.6–3.0 million budget gap; next sessions will target expenditure reductions and reserves use.
Mrs. May, the district's business official, presented revenue assumptions and the tax-cap calculation for the 2026–27 budget cycle and outlined next steps for closing the gap.
May explained that the tax-cap starts with the lesser of 2% or CPI (capped at 2%) plus a tax-base growth factor (0.07%) and applicable exclusions; with the capital-levy exclusion the cap was described around 2.52%. She said the governor's executive proposal would hold "save harmless" districts to a minimum 1% foundation-aid increase (about $95,000 for Eden), but a drop in deferred building aid is driving a larger net state-aid decline (about $944,000).
On the revenue side, May summarized small increases in pilot payments and sales-tax shares but overall said the district is facing "about a $3,000,000 budget gap," a modest improvement from earlier estimates. The board scheduled a follow-up budget session to examine expenditures, potential tax-levy options and how much to draw from reserves.
